Dogcoin 
$0.00000005041351At the end of August, after finding support at $ 0.21, he began to give signs of recovery again. The rise in August 30–31 transaction sessions was remarkable with the effect of whale transactions and stock market transfers. Despite the uncertainty in the market, the data that signs of corporate interest indicates a possible leap in Doga’s technical appearance.
Whale transfers triggered mobility in Dogecoin
The price of Dogecoin lost 5 percent in 24 hours from the morning of August 28 to the morning of August 29th and fell from 0.22 dollars to $ 0.21. The most prominent factor in this decline 900 million units realized on August 24-25 Dog‘Luk (about 200 million dollars) was unknown whale transfer. This gigantic amount sent to the Binance wallets created a perception of sales pressure in the market, led to a decrease in open positions in futures.
While the sales of individual investors continued, the figures showing that the interest of corporate investors continued. In August, a total of 680 million Dogs were collected by large investors in Blockchain.
Strong data were also observed on the network security side. The Hashrate of the Dogecoin network increased above 2.9 Petahash, and broke a historical record on the mining side. The increase in hashrate shows that the security of the network and the processing capacity of the process verification are strengthened.
TECHNICAL APPLICATION POINT 0.30 DOLLARS
In the table that emerged by technical analysis, $ 0.21 stands out as a critical support level. The preservation of this level is seen as the main factor that will prevent the price of the possible downward fracture from hanging for $ 0.20. On the other hand, $ 0.23 stands out as a short -term resistance point. Exceeding this level has the potential to carry the price of Doge to $ 0.25, then to $ 0.30.
Relative power index (RSI) It reflects that the air is between neutral and slightly negative in Altcoin, watching at 40 levels. Macd On the side, there has not yet been a clear intersection signal and the fall trend continues. However, the price of the price in the range of $ 0.21–0.23 is considered as a harbinger of a strong movement according to the breakdown direction.
On the night of August 30 and the morning of August 31, the recovery proved that the support level has been preserved for now. The direction of whale transfers and the course of open positions in the futures will be the decisive elements of the future of the price in the coming days. In particular, whether the corporate purchases will continue, Doge will show whether or not to enter a new upward trend.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
